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Highlights
- Graphite One’s share price surged approximately 105% over the past six months.
- The S. Department of Defense boosted funding for critical minerals late in 2025.
- Graphite One is advancing a fully U.S.-based graphite supply chain.
- The Graphite Creek deposit is the largest known natural graphite resource in the U.S.
- Independent analysis has confirmed rare earth elements in the Graphite Creek deposit, expanding potential project value.
- The company ranked No. 8 on the 2026 OTCQX® Best 50 based on 2025 performance metrics.
Graphite One Inc. (TSX.V:GPH) (OTCQX:GPHOF) has recorded a notable rise in its share price over the past six months. The stock has climbed to CAD 2.13, as of February 4, 2026, reflecting a gain of approximately 105% during this period. This surge coincides with growing attention on strategic mineral supply chains, particularly as governments highlight vulnerabilities in materials essential to defense, energy storage, and advanced manufacturing.
The recent price movement places Graphite One among a broader group of mineral-focused companies that have drawn investor attention as policy priorities shift toward domestic sourcing and processing.
Strategic Mineral Stocks Gain Ground Amid Defense Supply Concerns
Momentum across strategic mineral equities intensified following disclosures that the U.S. Department of Defense allocated approximately USD 4.5 billion toward critical minerals in the final months of 2025. According to S&P Global, government backing for strategic mineral projects is expected to reach record levels in 2026 as Western nations seek to strengthen domestic processing capacity.
Industry commentary has emphasized the fragility of existing supply chains, with concerns that disruptions could impact defense readiness and technology manufacturing. In this context, companies with assets located in politically stable regions and aligned with domestic supply objectives have received heightened scrutiny. Graphite One has been identified alongside peers such as Perpetua Resources, Centrus Energy, and Century Aluminum within this emerging policy-driven framework.
Developing a U.S.-Based Graphite Supply Chain
Graphite One is advancing the Graphite One Project, designed as a vertically integrated U.S.-based graphite supply chain. The project is anchored by the Graphite Creek deposit in Alaska, recognized by the U.S. Geological Survey as the largest known natural graphite deposit in the United States and among the largest globally.
The company’s strategy involves transporting mined material via the Port of Nome to the lower 48 states, where it plans to develop an advanced graphite material and battery anode manufacturing facility in Warren, Ohio, subject to project financing. The proposed Ohio site is also expected to host a potential recycling facility, intended to reclaim graphite and other battery materials as part of a circular economy approach.
Financing Developments and Project Scale
In December 2025, Graphite One disclosed amended, non-binding Letters of Interest from the Export-Import Bank of the United States (EXIM). The potential debt financing for the Graphite Creek Project was increased from USD 570 million to USD 670 million, while the proposed Ohio manufacturing facility LoI expanded from USD 325 million to USD 1.4 billion. Combined, the EXIM Letters of Interest total USD 2.07 billion for the company’s fully U.S.-based supply chain concept.
The Ohio facility is planned to support phased production increases of 25,000 metric tons per annum, targeting output of up to 100,000 metric tons per annum of anode active material.
Recognition and Geological Updates
In January 2026, Graphite One was named to the 2026 OTCQX® Best 50, ranking No. 8 among companies traded on the OTCQX Best Market based on 2025 performance metrics. Separately, independent laboratory analysis has confirmed the presence of rare earth elements within the Graphite Creek deposit, including elevated concentrations of magnet and heavy rare earth elements in garnet-bearing material.
According to the company, these findings suggest the potential for rare earth recovery alongside graphite extraction during early mining stages, within the pit outlined in the February 2025 feasibility study.
Graphite One’s recent share price gains reflect rising investor focus on U.S.-based strategic mineral supply chains as defense and energy security priorities intensify. Government funding signals expanding EXIM financing interest, while recognition on the OTCQX Best 50 has reinforced visibility. Geological confirmation of rare earth elements further broadens project optionality, though successful execution and financing remain central to long-term outcomes.
Shares of GPH last traded at CAD 1.65 on February 11 2026.
